IMPORT LICENSES

Nelson Evening Mail, Volume LXXIII, 28 August 1939, Page 3

IMPORT LICENSES

M A KIN G R L MITT ANC E S j RESERVE BANK STATEMENT I [United Press Association] WELLINGTON, 2flth August. Now that the initial process of grant- , ing exchange authorities to holders of i import licenses is nearing completion. I the Reserve Bank announces that arj rangements are being made to afford as l much elasticity in the time of making j remittances in respect of individual | licenses as can be allowed without de- ; parting from the general principles obj served in the allocation of exchange. , Under these arrangements, transfers I as regards priority of remittance may | be made from any tariff item to any | other tariff item in the same category, i subject to certain limitations as bctween one country and another. I It must, however, be understood that i such adjustments will not entitle a ! license holder to additional remittances i in any month, nor will they entitle him to remit more in respect of any license than the value of the goods covered thereby Holders of licenses who may wish to avail themselves of these facilities should make the necessary arrangements with their bankers.